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7. schedule of cash payments for a service company Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash
7. schedule of cash payments for a service company
Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $28,500. The budgeted expenses for the next three months are as follows: January February March Salaries $65,600 $79,800 $88,400 Utilities 5,400 6,000 7.100 Other operating expenses 49,900 54,400 59,900 Total $120,900 $140,200 $155,400 other operating expenses include $3,600 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid foethe year on May 1 of the previous year of the remaining expenses, 80% are paid in the month in which they are incurred, with the remainder paid in the following month The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December Prepare a schedule of cash payments for operations for January February, and March EastGate Physical Therapy Inc. Schedule of Cash Payments for Operations For the Three Months Ending March 31 January February March Payments of prior monthis expense Payments of current month's expense Total cash payments Step by Step Solution
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